Guggenheim Cuts Accenture (NYSE:ACN) Price Target to $395.00

Accenture (NYSE:ACN) had its price target reduced by stock analysts at Guggenheim from $400.00 to $395.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Guggenheim’s price objective suggests a potential upside of 33.05% from the company’s previous close.

Several other brokerages also recently issued reports on ACN. Mizuho dropped their target price on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Stifel Nicolaus decreased their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target on the stock in a report on Monday. Finally, Jefferies Financial Group cut their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $383.00.

Accenture Trading Down 1.3 %

ACN stock traded down $4.03 during trading on Friday, reaching $296.88. The company had a trading volume of 932,384 shares, compared to its average volume of 2,766,114. The company has a market cap of $185.79 billion, a P/E ratio of 24.83, a PEG ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The business has a 50 day moving average of $360.05 and a 200 day moving average of $357.39. Accenture has a 52 week low of $278.69 and a 52 week high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. During the same quarter last year, the firm posted $2.77 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Accenture will post 12.73 earnings per share for the current fiscal year.

Insider Transactions at Accenture

In related news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by insiders.

Institutional Trading of Accenture

A number of institutional investors have recently bought and sold shares of ACN. Morse Asset Management Inc bought a new stake in Accenture in the third quarter worth about $25,000. FPC Investment Advisory Inc. boosted its stake in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Accenture in the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Accenture during the fourth quarter worth $30,000. Finally, POM Investment Strategies LLC increased its holdings in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.